CNBC reported that Sotheby's recently sold a century-old bottle of Louis XIII Cognac for $134,750, making it one of the most expensive bottles of wine ever auctioned.The auction house said the cognac sale was part of more than $5 million worth of wine it sold over the Sept. 10-11 weekend. Think its new owner will actually drink it? Think again; the cognac, which dates back to the 1870s, is likely an investment by a wine aficionado, but one who values profit over taste.
It can be risky but also full of rewards. And there are often few immediate dividends apart from emotional ones.
From art, antiques and vintage autos to whiskey and wine, here's a look at alternative investments that do double duty as both passions and profit generators.
"I don't believe collectibles are a wise vehicle for the average investor. Collecting to make a profit is challenging and should be left to the specialists in their respective fields," said Steve Lear, principal and financial planner at Affiance Financial. "If investors are inclined to collect, they should do so not with the intention of making a profit, but to enrich their lives by doing something that brings them joy."
This story, originally posted 4 December 2013, has been updated to reflect recent auction news on collectibles.